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  Quantitative Investment Strategies: Overview of Theory and Evidence  by Tarun Gupta Vice President, AQR Capital Management On 27th October, 2016 (Thursday) at 3:00 PM Venue : Seminar Room (First Floor) Department of Economics, Delhi School of Economics All are cordially invited Abstract   Starting with the workhorse asset pricing theory and model, I outline various ‘asset  pricing anomalies’ that seem to be unexplained, and consequently pose a challenge to existing theory. I examine empirical evidence to document these anomalies: Valuation, Momentum and Low-Risk, and potential reasons for why they exist and might continue to do so. I show these are

  Measuring unilateral and multilateral gains from tackling current economic inefficiencies in CO2 reductions: Theory and evidence.  by Sushma Murty University of Exeter On 20th October, 2016 (Thursday) at 3:00 PM Venue : Seminar Room (First Floor) Department of Economics, Delhi School of Economics All are cordially invited Abstract We develop a methodology for (a) constructing unilateral profit (producer surplus)- increasing and emission-decreasing policy reforms and (b) measuring marginal abatement cost (MAC), when countries operate inefficiently in meeting their self-imposed emission caps and when instantaneous radical jumps from their inefficient status-quos to their emission-constrained optima are infeasible due to existing

  Misled and Mis-sold: Financial misbehaviour in retail banks?  by Renuka Sane ISI, New Delhi On 22nd September, 2016 (Thuresday) at 3:00 PM Venue : Seminar Room (First Floor) Department of Economics, Delhi School of Economics All are cordially invited Abstract We use an audit methodology where auditors ask for tax saving instruments from banks and document the disclosures made on product features at the time of sale. In private sector banks with high sales incentives, the high commission product is recommended. In public sector banks, where there are deposit mobilisation targets, fixed deposits are recommended. Banks rarely make voluntary

  An Application (or Two) of the Synthetic Control Method (SCM) in Policy Evaluation  by Devesh Roy IFPRI, New Delhi On 1st September, 2016 (Thuresday) at 3:00 PM Venue : Seminar Room (First Floor) Department of Economics, Delhi School of Economics All are cordially invited Abstract We estimate the impact of the Hartz Reforms, the most prominent labor reforms in Germany since the Second World War, on the German labor market. We adopt a cross-country program evaluation approach where, employing Synthetic Control Method (SCM) for comparative case studies, we utilize the characteristics of OECD countries to construct a counterfactual for

  Student Performance and the Effects of School Quality versus School Fit by Kehinde Ajayi Boston University On 23rd August, 2016 (Tuesday) at 3:00 PM Venue : Seminar Room (First Floor) Department of Economics, Delhi School of Economics All are cordially invited Abstract This paper quantifies the effects of attending a school with high academic quality versus one with preferred characteristics. Analyzing data on secondary students in Ghana, I find that school quality generates larger benefits than school fit — students admitted to schools with high performing peers are more likely to stay in the same school and have modest